On FT Alphaville this morning,
- Tony Jackson on M&A: “Mankind is in the habit of paying more for the chance of a gain than the chance is actually worth.”
- It’s only as bad as we said it would be, say UBS after worries of a Merrill-style surprise writedown.
- The dollar is a flawed currency, according to Jim Rogers, and Chinese is beginning to worry him.
- The Hang Seng powered up 4 per cent on Monday- closing at 31586.9. A rise of 11 per cent over the week.
- Things can only get worse for Merrill Lynch – analysts are already saying grim things about the bank’s Q4s. For holders of CDO debt, there are very troubled times ahead.
-John Dizard sees the beginnings of an 18 month equity bubble – an end-of-cycle rally to end all end-of cycle rallies?
On FT.com this morning,
- UK mortgage approvals are at a two year low.
- Europe’s financial services industry is bracing itself for Mifid.
- The dollar continues to sink – it’s at a new low against the Euro.
- And banks and autos drove gains for European stocks.
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